Liberty Racing Suspends Operations

LORAIN, Ohio (Dec. 30, 1999) Liberty Racing, a charter team in the NASCAR
Craftsman Truck Series with its No. 98 Ford, has announced it will suspend
operations effective Friday due to its inability to obtain a marketing
partner for the NASCAR 2000...

LORAIN, Ohio (Dec. 30, 1999) Liberty Racing, a charter team in the NASCAR
Craftsman Truck Series with its No. 98 Ford, has announced it will suspend
operations effective Friday due to its inability to obtain a marketing
partner for the NASCAR 2000 season, team owner Jim Herrick announced
Thursday afternoon.

Herrick added that all of the team's assets, including eight race trucks,
are for sale. Team manager Tim Stephens said he was scheduled to display
the operation for three separate potential ownership groups between now
and Monday.

"The potential is here for someone to have a good, successful program as
it has been for us," Stephens said, "if they can simply add the right
people in the right places."

The lack of the right backer, unfortunately, was the one element that
eluded Liberty in the end.

"It's a difficult decision, one which we reached after a great deal of
consternation," Herrick said. "It's frustrating to be in this position,
but without a sponsorship commitment and no good leads on gaining such a
commitment, this is the only prudent action."

Liberty competed in all 122 series owns three victories, two Bud Poles and
finished in the top-12 in the series point standings four of five seasons.
The team also played a key role in launching the careers of drivers Kenny
Irwin and Kevin Harvick.

Irwin won two races and the 1997 Cintas Rookie of the Year Award driving
Liberty's Raybestos Brakes/Ford Credit Fords. He followed that season with
the Raybestos Rookie of the Year Award in the NASCAR Winston Cup Series
driving for team owner Robert Yates.

Harvick drove Liberty's No. 98 Porter-Cable Power Tools Ford in 1999. He
left the team for a full-time ride in the NASCAR Busch Series with team
owner Richard Childress. Sponsor Porter-Cable also left the team to back a
NASCAR Busch Series effort fielded by Joe Gibbs Racing.

The loss of Liberty Racing, combined with departures earlier this year by
the Chesrown, Childress and Earnhardt teams, leaves only two teams, Rick
Hendrick's Hendrick Motorsports and Jim and Marlene Smith's Ultra
Motorsports, which have competed in all 122 series events under the same
ownership that are expected to participate in the NASCAR 2000 season.

The decision was particularly frustrating for the team and Stephens, who
said the operation was ready to test and go racing "immediately," save for
the lack of a marketing partner to fund the effort.

"We have a better depth of resources overall than at any time in our
history," Stephens said earlier this month. "We have everything in place
except the funding. The two trucks that would go to Daytona are sitting,
less engines, ready to go in the hauler. The trucks that are complete and
in the fleet could run deep into the season."

The season opening NASCAR Craftsman Truck Series 250 at Daytona
International Speedway is scheduled for Feb. 18. A two-day test is
scheduled at the 2.5-mile trioval for Jan. 14-15.

With the decision to close the operation, Stephens said he was unsure
exactly whether Liberty's crew of six -- half the crew that ended the
season in October -- would seek opportunities to stay in the sport. He
added that while he and Herrick had some business opportunities outside
motorsports they might pursue he was also considering motorsports
consulting or working weekends as a spotter.

"After dedicating so much energy to this operation it would be hard to
jump into something else with the energy level it would take," Stephens
said. "But I think there are some people in the sport we could help from a
consultant's standpoint. I'd like to be at the race track because after
all we've been through I'd hate to start missing them now.

"We've had a great five-year run. Those of us who have been through most
of it have made a tremendous living doing what we love to do. It's been a
great experience, but the worst case is we'll be watching and cheering
like crazy for Kenny and Kevin."